compass is a very inefficient operator. from my experience with them on a small scale they have no edge in getting miners racked so it is impossible to estimate an ROI and are really really disorganized (no miner serials no accurate timelines, terrible customer service)
Not to go against the hardcore bitcoiner narrative here but my experience with compass is middle of the road. It’s not awesome but it’s not awful either.
I know not my miner not my hash but getting sats daily is nice. But I’m risking it for the biscuit and In the process supporting a bitcoin business by being a customer.
If they go belly up then I lose and life goes on but if they win then I think it’s a net positive for the whole ecosystem. But I get it people get in their feels when it comes to money
The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:
Effective June 14th @compass_mining facility hosting agreement in Maine was terminated by @dynamics2k for failure to pay power consumption charges. 6 late payment and 3 non payments. @MiningScandals
For clarity @compass_mining power consumption @dynamics2k totaled $1.2 million and they only paid $415k and $250k initial power deposits. Compass claims that they gave money to @dynamics2k but the money was used to build out their facilities. #truth
compass is a very inefficient operator. from my experience with them on a small scale they have no edge in getting miners racked so it is impossible to estimate an ROI and are really really disorganized (no miner serials no accurate timelines, terrible customer service)
👀
Not to go against the hardcore bitcoiner narrative here but my experience with compass is middle of the road. It’s not awesome but it’s not awful either.
I know not my miner not my hash but getting sats daily is nice. But I’m risking it for the biscuit and In the process supporting a bitcoin business by being a customer.
If they go belly up then I lose and life goes on but if they win then I think it’s a net positive for the whole ecosystem. But I get it people get in their feels when it comes to money
My experience with Compass was very negative. I am more shocked it is not a unique issue.
Man, I really liked their idea. But I cannot imagine how hard it is for them to deal with all the financials. RIP
Compass had recently deleted their Discord server:
https://twitter.com/compass_mining/status/1540413202365923328 https://nitter.net/compass_mining/status/1540413202365923328 <-- Full thread, can be easier to read
Yea this sucked
https://twitter.com/BTC_Dumbledore/status/1541299436126556161 https://nitter.net/BTC_Dumbledore/status/1541299436126556161
The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:
view on twitter.comUPDATE
Compass Mining CEO and CFO Resign Amid 'Setbacks and Disappointments' | CoinDesk #39467 https://www.coindesk.com/business/2022/06/28/compass-mining-ceo-and-cfo-resign-amid-setbacks-and-disappointments https://archive.ph/v1Y9Q <-- An archive, which can be easier to read
UPDATE 2
Compass Mining Denies Dynamics Facility Allegations https://compassmining.io/education/compass-mining-denies-dynamics-facility-allegations/
There's another, follow-on, Twitter thread:
https://twitter.com/DynamicsMining/status/1541397114189643776 https://nitter.net/DynamicsMining/status/1541397114189643776 <-- Full thread, can be easier to read
Doh! Dynamic Mining has since deleted that Tweet.
https://twitter.com/MiningScandals/status/1541280200742150144 https://nitter.net/MiningScandals/status/1541280200742150144 <-- Full thread, can be easier to read
This is a reminder of why on-chain payments sometimes are useful 😅